South Korean prosecutors launched an investigation into the IHR and summoned all employees of Terraform Labs to investigate the collapse.
According to a report by local television station JTBC, South Korean prosecutors summoned all employees of Terraform Labs to investigate the collapse of TerraUSD (UST). According to a previous employee’s statement, some concerns are also said to have arisen from within Terraform Labs about the design of UST.
According to the report, prosecutors are investigating a number of issues, including whether CEO Do Kwon and other Terraform Labs executives neglected the UST’s design flaws. It also examines whether domestic crypto-asset trading platforms have also undergone due diligence before listing UST and LUNA. As we reported earlier, South Korean regulators Financial Services Commission (FSC) and Financial Supervisory Service (FSS) launched “emergency audits” on domestic crypto asset trading platforms to protect investors after the incident.
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